Adani ENT reports dismal Q4 performance

Adani ENT reports dismal Q4 performance


Adani Enterprises reported a consolidated net loss of Rs 220.71 crore (attributable to the owners) in Q4 FY26, from a net profit of Rs 3,844.91 crore in Q4 FY25.

However, revenue from operations jumped 20.3% to Rs 32,439.31 crore in Q4 FY26 from Rs 26,965.86 crore recorded in the same period a year ago.

The company swung into a net loss this year primarily due to an exceptional gain of Rs 3,945.7 crore in the same quarter a year ago. In Q4 FY25, Adani Enterprises had reported an exceptional gain of Rs 3,945.7 crore following a stake sale in AWL Agri Business (formerly Adani Wilmar).

 

EBITDA for the quarter stood at Rs 4,346 crore in Q4 FY26, up 3% from Rs 4,479 crore posted in Q4 FY25.

On the business front for Q4 FY26, Adani Enterprises said Indias largest greenfield Ganga Expressway was inaugurated on April 29, 2026, after being completed in less than 3.5 years. The road business added three new projects during the quarter, including one HAM project and two TOT projects.

Adani Wind (ANIL) was noted as the only Indian company among the top 15 global wind turbine manufacturers. AdaniConnex also handed over Phase II capacity of a 4.8 MW data center at Hyderabad to a customer, taking its operational capacity to more than 55 MW.

In the data center business, AdaniConnex (ACX) has secured a new hyperscale order of 358 MW in Hyderabad, taking its cumulative tied-up capacity to over 560 MW. The Hyderabad data center Phase II, with 4.8 MW capacity, is now operational. With this addition, the companys total operational capacity has increased to over 55 MW across four data centers.

Adani Airports Holdings (AAHL) reported strong performance in FY26, with aero revenue growing 26% YoY and non-aero revenue rising 31% YoY. During the quarter, the company added 3 new routes and 20 new flights, further strengthening its network expansion and operational growth.

Adani Road Transport (ARTL) added three new road projects, taking its total portfolio to 20 projects. These include the Chennai Outer Ring Road TOT project in Tamil Nadu, the PalanpurRadhanpurSamkhayili NH-27 operational TOT project in Gujarat, and the Ganga Path extension (DighaKoilwar) HAM project in Bihar.

In the mining services segment, dispatches rose to 16.1 MMT in Q4 FY26, up 15% year-on-year from 14 MMT in Q4 FY25. In the IRM segment, volumes declined to 9.3 MMT in Q4 FY26, down 40% year-on-year from 15.3 MMT in Q4 FY25.

Gautam Adani, chairman of the Adani Group, said, Adani Enterprises has delivered yet another year of disciplined execution, stable EBITDA, and continued momentum across our core infrastructure and incubation platforms.

What is particularly encouraging is that the majority of the EBITDA is now led by our core infrastructure incubating businesses and stable mining services, reflecting the maturity and scale of our operating portfolio. FY26 has also been a year of decisive progress in building and making ready some of the large infra assets of the Navi Mumbai International Airport, Guwahati Airport, and the Ganga Expressway. As Indias growth accelerates, we continue to focus on building and scaling globally competitive infrastructure businesses with our robust project pipeline.

Meanwhile, the board has recommended a dividend of Rs 1.30 per equity share of face value Rs 1 each for FY 202526, subject to shareholder approval at the AGM. The company has fixed June 12, 2026, as the record date to determine eligibility for the dividend. If approved, the dividend will be paid on or after June 30, 2026, subject to applicable tax deductions at source.

Separately, the company has approved a proposal to raise up to Rs 15,000 crore through the issuance of equity shares or other eligible securities, subject to shareholder approval at its Annual General Meeting scheduled for June 24, 2026. The fundraising may be undertaken through one or more permissible routes, including private placement, qualified institutional placement, preferential issue, or any other method allowed under applicable law.

The proposed issuance will involve equity shares with a face value of Rs 1 each and/or other eligible securities, or a combination of both, for an aggregate amount not exceeding Rs 15,000 crore or its equivalent. The proposal will require approval from shareholders at the upcoming AGM, along with other regulatory and statutory clearances, as applicable.

Adani Enterprises (AEL) is the flagship company of Adani Group, one of India’s largest business conglomerates. The company’s business investments are centered on the fields of airport management, technology parks, roads, data centers, and water infrastructure.

Shares of Adani Enterprises shed 0.85% to settle at Rs 2,404.05 on the BSE.

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Adani ENT reports dismal Q4 performance

Onemi Technology Solutions (Kissht) IPO subscribed 24%


The offer received bids for 94 lakh shares as against 3.97 crore shares on offer.

Onemi Technology Solutions (Kissht) received bids for 94,33,584 shares as against 3,97,62,250 shares on offer, according to stock exchange data at 17:00 IST on Thursday (30 April 2026). The issue was subscribed 0.24 times.

The issue opened for bidding on 30 April 2026 and it will close on 5 May 2026. The price band of the IPO is fixed between Rs 162 and 171 per share. An investor can bid for a minimum of 87 equity shares and multiples thereof.

The initial public offer (IPO) consists of a fresh issue of shares to raise Rs 850 crore through the issuance of 5.25 crore equity shares at the lower band of Rs 162 per share (face value Rs 1 per share) and 4.97 crore equity shares at the upper band of Rs 171 per share.

 

The issue also consists of an Offer for Sale (OFS) of 0.44 crore equity shares to raise Rs 71.92-75.92 crore. The promoters are not participating in the OFS. The promoter shareholding would decline to 24.8% from pre-IPO level of 35.2%

The company proposes to utilize Rs 637.5 crore from the net proceeds from the fresh issue towards augmenting the capital base of the subsidiary, Si Creva, to meet its future capital requirements arising out of the growth of business. In addition, the company expects to receive the benefits of listing the equity shares on the stock exchanges, including enhancement of the company’s brand name and creation of a public market for equity shares in India.

Onemi Technology Solutions (Kissht), incorporated in 2016, is a tech-enabled digital lending NBFC offering personal loans and loans against property through its mobile-first platform. It serves a largely young, digitally connected customer base with a highly granular loan book, reporting over 2.87 million active customers and AUM of Rs 5,955.75 crore as of December 2025, supported by strong growth, advanced AI/ML-driven underwriting, and a scalable cloud-based lending infrastructure. The company operates through its RBI-regulated subsidiary Si Creva, maintains healthy asset quality (GNPA 2.9%, NNPA 0.38%), and has demonstrated strong expansion with AUM CAGR of approximately 79.5% between March 2023 and March 2025, backed by diversified customer acquisition channels and experienced leadership.

Ahead of the IPO of Om Power Transmission on 29 April 2026, the company raised Rs 277.77 crore from anchor investors by allotting 1.62 crore shares at Rs 171 each to 22 anchor investors.

For the nine months ended 31 December 2025, the firm recorded a consolidated net profit of Rs 199.27 crore and income from operations of Rs 1,559.90 crore.

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Adani ENT reports dismal Q4 performance

Nifty May futures trade at premium


India VIX rallied 5.86% to 18.46.

The Nifty May 2026 futures closed at 24,136.70 a premium of 139.15 points compared with the Nifty’s closing at 23,997.55 in the cash market.

In the cash market, the Nifty 50 index fell 180.10 points or 0.74% to 23,997.55.

The NSE’s India VIX, a gauge of the market’s expectation of volatility over the near term, jumped 5.86% to 18.46.

HDFC Bank, Bajaj Finance and Waaree Energies were the top-traded individual stock futures contracts in the F&O segment of the NSE.

The May 2026 F&O contracts will expire on 26 May 2026.

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First Published: Apr 30 2026 | 5:16 PM IST



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Bagmane REIT eyes growth via GCC demand, ROFO pipeline, low leverage

Bagmane REIT eyes growth via GCC demand, ROFO pipeline, low leverage



Blackstone-backed Bagmane Prime Office Reit is targeting sustained growth in net operating income (NOI) and distributions, backed by a 47 million square feet (msf) right of first offer (ROFO) pipeline and significant debt headroom for acquisitions due to its low loan-to-value ratio (LTV).

 


The Bengaluru-based real estate investment trust (Reit) is betting on continued office demand from global capability centres (GCCs), which account for 89 per cent of its tenant base. It plans to raise ₹3,405 crore through an initial public offering (IPO), valuing it at ₹34,000 crore at the upper end of the ₹95-100 per share price band.

 
 


“The primary strategy (behind going public) is to improve the way the Bagmane Group, the developer and promoter, can deliver its real estate to the investing market. There are tax efficiencies both for the developer and for investors in a Reit listing as opposed to an IPO,” said Richard Hugh Andrew, chief executive officer of Bagmane Prime Office Reit.

 


The Bagmane Reit IPO opens on May 5 and closes on May 7, 2026. It comprises a fresh issue of ₹2,390 crore and an offer for sale (OFS) worth ₹1,015 crore. 

 


The Reit reported NOI of ₹1,758.97 crore in the first nine months of financial year 2025-26 (FY26). Its portfolio has historically delivered 10-12 per cent annual NOI growth, according to Chief Financial Officer Ashay Shah. 

 


NOI is projected to rise to ₹2,675.8 crore in FY27 and ₹3,754.8 crore by FY30 — a 12 per cent compound annual growth rate (CAGR). Net distributable cash flow (NDCF) is estimated to increase from ₹2,095.6 crore in FY27 to ₹2,533.7 crore by FY30.

 


“Because our leverage is low, we intend to distribute nearly all cash flows to investors while funding growth through under-development assets, ROFO acquisitions, and third-party acquisitions,” Shah stated.

 


The Reit’s loan-to-value (LTV) ratio stood at 5 per cent as of December 2025, with net debt of ₹2,552.8 crore. 

 


“We see this as a major strength. Our net debt as of December 2025 was ₹2,552.8 crore. At 5 per cent LTV, we have significant headroom to raise debt for acquisitions and we may not need equity dilution to fund growth,” Shah added.

 


The trust’s portfolio spans 20.3 msf in Bengaluru, including 19.6 msf of office space, with another 3 msf under development.

 


“Beyond that, we will continue evaluating inorganic expansion through third-party assets in core commercial real estate markets,” Shah said.

 


The portfolio also includes 607 hotel keys under development and 164.4 Megawatts (Mw) of energy capacity across four solar parks, three of which are operational. Gross asset value stands at ₹40,260 crore.

 


On non-core assets, Andrew said growth remains linked to the office portfolio, with offices continuing as the primary focus. 

 


The Reit plans to spend ₹3,161.7 crore over the next three to four years to complete under-development assets, with 25 per cent earmarked for hotels. Post-IPO, the Bagmane Group will hold over 82 per cent, while Blackstone will reduce its stake to above 3 per cent. The rest will be held by public shareholders, including pre-IPO investors, subject to a one-year lock-in.  

 


Pre-IPO investors hold around 4 per cent, Blackstone 6.5 per cent, and the sponsor the remainder stake.  “The promoter will continue holding a majority stake post-listing, which reflects a long-term commitment,” Andrew said. 

 


For Blackstone, Bagmane Prime Office marks its fifth Reit platform in India. The firm exited Embassy Office Parks Reit in 2023, sold its stake in Mindspace Business Parks Reit in 2022, partially exited Nexus Select Trust in 2024, and launched Knowledge Realty Trust with Sattva Group in 2025.  

 


Its concentration in Bengaluru and GCC tenants remains a strength. “The group continues to focus on Bengaluru because it has consistently been the best-performing office market for nearly a decade,” Shah said.

 


“We remain strongly confident in the macro economy and believe GCCs will continue to focus on expanding in India,” Andrew added. Executives added that they had not seen any impact from layoffs on its portfolio. 

 


On the West Asia crisis, Andrew said macroeconomic implications remain, especially through oil prices. “But this is not the first geopolitical disruption markets have navigated. Real estate has historically shown resilience and tends to recover quickly. We continue to monitor developments and will adjust strategy if needed,” he added.

 



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Adani ENT reports dismal Q4 performance

ESAF Small Finance Bank reports standalone net profit of Rs 23.51 crore in the March 2026 quarter


Total Operating Income rise 11.55% to Rs 995.08 crore

Net profit of ESAF Small Finance Bank reported to Rs 23.51 crore in the quarter ended March 2026 as against net loss of Rs 183.19 crore during the previous quarter ended March 2025. Total Operating Income rose 11.55% to Rs 995.08 crore in the quarter ended March 2026 as against Rs 892.06 crore during the previous quarter ended March 2025.

For the full year,net loss reported to Rs 166.40 crore in the year ended March 2026 as against net loss of Rs 521.39 crore during the previous year ended March 2025. Total Operating Income declined 8.30% to Rs 3537.18 crore in the year ended March 2026 as against Rs 3857.53 crore during the previous year ended March 2025.

 ParticularsQuarter EndedYear EndedMar. 2026Mar. 2025% Var.Mar. 2026Mar. 2025% Var.Total Operating Income995.08892.06 12 3537.183857.53 -8 OPM %30.458.08 22.5618.25 PBDT27.09-240.84 LP -228.40-634.97 64 PBT27.09-240.84 LP -228.40-634.97 64 NP23.51-183.19 LP -166.40-521.39 68

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First Published: Apr 30 2026 | 5:04 PM IST



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Adani ENT reports dismal Q4 performance

Equitas Small Finance Bank standalone net profit rises 405.06% in the March 2026 quarter


Total Operating Income rise 11.70% to Rs 1836.35 crore

Net profit of Equitas Small Finance Bank rose 405.06% to Rs 212.68 crore in the quarter ended March 2026 as against Rs 42.11 crore during the previous quarter ended March 2025. Total Operating Income rose 11.70% to Rs 1836.35 crore in the quarter ended March 2026 as against Rs 1643.97 crore during the previous quarter ended March 2025.

For the full year,net profit declined 29.90% to Rs 103.08 crore in the year ended March 2026 as against Rs 147.05 crore during the previous year ended March 2025. Total Operating Income rose 7.64% to Rs 6794.24 crore in the year ended March 2026 as against Rs 6311.73 crore during the previous year ended March 2025.

 ParticularsQuarter EndedYear EndedMar. 2026Mar. 2025% Var.Mar. 2026Mar. 2025% Var.Total Operating Income1836.351643.97 12 6794.246311.73 8 OPM %47.4439.08 36.1737.19 PBDT278.3553.29 422 128.13198.85 -36 PBT278.3553.29 422 128.13198.85 -36 NP212.6842.11 405 103.08147.05 -30

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First Published: Apr 30 2026 | 5:04 PM IST



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